Petrobras ordered to pay $400 mln to small refinery over fuel pricing

Redacción de Reuters

1 MIN. DE LECTURA

SAO PAULO, Dec 3 (Reuters) - A judge in Brazil ordered state-run oil company Petroleo Brasileiro SA, or Petrobras , to pay about 1 billion reais ($400 million) in damages to a Rio de Janeiro refinery for selling gasoline and other fuels below cost, according to a securities filing on Wednesday.

Refinaria de Petroleos de Manguinhos SA is one of the few independent refineries in a market dominated by Petrobras, which has been selling fuel at a loss for years because of a government policy aimed at curbing inflation.

The judge ruled that Petrobras should pay Manguinhos 936 million reais for losses between 2002 and 2008, plus adjustments for inflation, more recent damages and legal fees.